Word: cements
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...three months, Pikalyovo's citizens had been living in crippling poverty after the town's recession-hit cement and brick factories started closing down. Thousands of workers were laid off, and almost overnight nearly 25% of Pikalyovo's 20,000 residents were unemployed. After making several pleas to their employers for back pay - at one point crashing a meeting at the mayor's office to demand their jobs back - the workers turned to desperate measures. On June 2, they staged a strike along a major highway linking the city of Vologda to St. Petersburg, blocking the route for hours. Finally...
...wouldn't have seen anything like this - people were fed up and angry," says Alexander Plush, 41, another former factory worker standing in line at the ATM. Plush had worked for 17 years at one of the Pikalyovo cement factories until it closed a few months ago. "Before we got paid, people were living on bread and water and the food they could grow in their gardens this early in the year," he says...
...right. Pikalyovo is one of hundreds of cities across Russia whose populations are supported by just one factory or one industry. If that factory or industry is wiped out by the global economic downturn - as Pikalyovo's was when the price of cement dropped and Deripaska's company Basic Element put half its workforce on forced leave - the whole town is sent into a tailspin. (See pictures of the global financial crisis...
...tradable carbon credits, 15% would be auctioned off, the rest donated to businesses like cement and steel plants to soften the bill's economic impact...
...does Tengzhong, a private company based in China's southwestern Sichuan province, hope to revive Hummer? The company has offered few details. It manufactures heavy machinery, road and bridge construction equipment, and special-use vehicles like dump trucks and cement mixers. With fuel prices remaining high, Tengzhong may restrict Hummer to some type of specialized application, rather than position the vehicle as a toy for wealthy consumers, says John Bonnell, director of Asia Pacific forecasting for J.D. Power and Associates. "I think the future is something outside a normal passenger vehicle for the Hummer," says Bonnell...